Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

v3.7.0.1
Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:    
Net income $ 1,765,202 $ 473,264
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,698,033 1,673,862
Amortization of debt issuance costs and debt discount 217,350 208,632
Provision for bad debt expense 13,849 33,907
Inventory reserve 26,425 54,696
Loss on extinguishment of debt 515,037  
Change in estimated fair value of warrant liability 126,897  
Deferred income tax provision 69,280 25,674
Share-based compensation 145,732 119,677
Changes in operating assets and liabilities:    
Decrease in restricted cash 13,282 10,054
Increase in accounts receivable (322,423) (389,834)
Increase in inventory (177,511) (288,795)
(Increase) decrease in prepaid expenses and other current assets (126,176) 34,197
(Decrease) increase in accounts payable (959,936) 903,420
Increase in income tax payable 628,821 297,421
Increase in accrued expenses 258,537 331,725
Increase in deferred revenue 297,041 70,065
Decrease in jackpot liabilities (15,711) (4,689)
(Decrease) increase in deferred rent (6,198) 2,598
Net cash provided by operating activities 4,167,531 3,555,874
Cash flows from investing activities:    
Acquisition of property and equipment (82,702) (45,638)
Cash flows from financing activities:    
Proceeds received from long-term debt 10,500,000  
Principal payments on capital lease obligations (59,197) (66,273)
Principal payments on long-term debt (12,121,613) (3,422,246)
Payments of debt issuance costs (637,995)  
Net cash used in financing activities (2,318,805) (3,488,519)
Effect of exchange rate changes on cash (31,886) (11,278)
Net increase in cash and cash equivalents 1,734,138 10,439
Cash and cash equivalents – beginning of period 570,623 560,184
Cash and cash equivalents – end of period 2,304,761 570,623
Supplemental cash flow information:    
Cash paid for interest 1,221,390 1,036,288
Inventory transferred to leased assets 135,681 55,188
Cash paid for income taxes 71,700  
Supplemental non-cash financing activities information:    
Effect of exchange rate on long-term debt payable in foreign currency   27,597
Issuance of warrants in conjunction with term loan 796,719  
Assets acquired in exchange for note payable $ 108,055  
Offsetting of related party note receivable and note payable   $ 383,298